100 youngsters from small-town China have been interviewed about their favorite movies and moviegoing habits, and the findings show that 55% of them watch fewer than five films a year, 65% of them learn about new films from WeWhat, and 80% of the interviewees are well informed about the upcoming films during Chinese New Year. Detective Chinatown 2 is the most anticipated Chinese New Year film, while Wolf Warrior 2 is the most liked among those who have watched it. Read more on yiqipaidianying
iQiyi Has Filed IPO In The US: Baidu Financial Report
Video streaming site iQiyi has officially submitted the U.S. IPO application, after reportedly having raised $1 billion. After the IPO, Baidu will remain the controlling shareholder of iQiyi. With 234 million daily active users, co-founder and CEO of Baidu Robin Li said in 2018, the focus will be incorporating AI technology into search engines and making iQiyi more competitive. Established in 2010, the video streaming site currently has a variety of content including self-produced shows and is licensed to stream a few Netflix series. Read more on yingshidushe
AcFun Accessible Again After Short Hiatus
Video sharing site AcFun is back in operation after a 11-day hiatus, and is giving out “red envelopes” to its users. So far AcFun has not explained why its services were suspended. It has been speculated that funding was the major reason for this, and AcFun has had much trouble with funding in the past decade. But being the first barrage video site in China, AcFun has many young users and helped develop China’s anime culture, and is thus valuable as a brand. It is highly likely that Alibaba will be the new investor behind AcFun. Read more on TMT Post
Will Xiaomi Be The Next Entertainment Giant in China?
After Xiaomi’s partner, Huami, filed for a $150 million US IPO earlier this year, many have been speculating that Xiaomi’s IPO is not far, and depending on the valuation, founder Lei Jun might become the richest man in China. Having started as a mobile phone manufacturer, Xiaomi has invested heavily in and partnered with gaming and other media products and services, even launching its own smart TV system Mi TV in 2013, giving it an added advantage if it were to compete with Alibaba and Tencent in the entertainment industry. Read more on Ent Group